Political Quotes

“I have an amendment at the desk. The Acting CHAIR. The Clerk will report the amendment. The Clerk read as follows: Page 104, after line 21, insert the following: Sec. __. Section 204 of the Investment Advisers Act of 1940 (15 U.S.C. 80b-4) is amended by adding at the end the following new subsection: ``(e) Inspection and Examination Fees.-- ``(1) In general.--The Commission shall collect an annual fee from investment advisers that are subject to inspection or examination by the Commission under this title to defray the cost of such inspections and examinations. ``(2) Exemptions for certain state-regulated investment advisers.--No fees shall be collected under this subsection from any investment adviser that is prohibited from registering with the Commission under section 203 by reason of section 203A. ``(3) Fee amounts.-- ``(A) Amount to be collected.-- ``(i) In general.--The Commission shall seek to ensure that the aggregate amount of fees collected under this subsection with respect to a specific fiscal year are equal to the estimated cost of the Commission in carrying out additional inspections and examinations for such fiscal year.…”